Eightcap Trade Zone Weekly Market Wrap | Fed Comments, CPI, Forex, Indices, Gold, Crypto, & more

January 13, 2023
by Joseph Jeffriess, Market Analyst

Welcome to this week’s wrap-up traders. Instead of focusing on one market, we have done a walk-around in today’s video, taking a look at some of the key data, comments, and news that hit the market. We have also done an analysis walk-around, looking at FOREX, stocks, indices, oil, gold, and cryptocurrencies.

Fed comments and US CPI drove focus this week. Wednesday’s comments set off further selling on the USD and strong buying on risk markets. Markets reacted to expectations that US CPI was coming in lower, which could even be the start of peak inflation. Buying was firm across the classes, with indices, risk FX and Cryptocurrencies all seeing solid gains over the week. Gold was another that started, and it briefly crossed the 1900 mark.

Inflation continues to remain the driving force. Fed comments today also moved more dovish, with members hinting at possible 25 pt raises in the future. Could this be the peak? We will have to wait until the next Fed meeting to get something more concrete. But for now, let’s see how far these current risk rallies can go.

At the end of the week, we have Prelim US UoM Consumer sentiment at 02:00 am AEDT.

Weekly Warp Analysis Video

All times are AEST.